Tuesday, January 27, 2009

These banks, financial institutions are just a TRIP!!! They don't get it. Here it is, we, the public, paying to save their A$$ES and their mindset is "financial 'rich' business as usual."

The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France...

You think these rich, bigwigs wanted to get rid of the jet? Of course not, they don't give a mickey-fickey how the public feels about them. They are wayyyy up there and we are wayyyy down here. But when you are coming to Capitol Hill, with your hand out for TAXPAYERS MONEY, you bet your sweet A$$ES it matters how that money is spent.

ABC News has learned that Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it."

That is right, they fixed it by announcing they are not purchasing any jet.

Citigroup Inc , which received a massive taxpayer-funded rescue last year, canceled plans to buy a $50 million executive jet after news of the new plane drew rebukes from politicians.

The bank is under heavy pressure from regulators and elected officials after receiving $45 billion of capital from the U.S. government last year, including a $20 billion emergency infusion in November.

This goes back to why we should even bail these greedy businesses out. They are not loaning out money. They are giving each other huge bonuses in the millions. They are keeping in the same rich frame as 'rich business' as usual. If these institutions are doing all this, why give them any more money? Yes, I understand the rationale, but these institutions don't get it. They are not worried about losing a job, home, unable to pay bills, send kids to college, heathcare, food costs, etc. They don't get it because they are in the highest percentile in this country who will never have to worry about finances.

Uggggh....I can continue to rant, but why? Who is listening? More importantly, who cares!!!

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